Is the future of financial 'advice' unregulated?

In June, Dave Chaundy gave up his Financial Services Authority (FSA) permissions and resigned from the Whitechurch Network. Concerned clients called, asking whether he would be retiring. But he wasn’t. Chaundy, sole adviser at The Grosvenor Consultancy, is one of a number of IFAs who are taking an unusual route to advising clients. The process has been surprisingly simple, he said. “I’ve established a reasonable practice and haven’t done any business with a new client for three or four years. Most of the work I do for them doesn’t involve any transactional advice at all. “I disc...